SCHAFFHAUSEN, Switzerland (AP) — SCHAFFHAUSEN, Switzerland (AP) — Garmin Ltd. (GRMN) on Wednesday reported third-quarter earnings of $399.1 million.
On a per-share basis, the Schaffhausen, Switzerland-based company said it had net income of $2.07. Earnings, adjusted for non-recurring gains, came to $1.99 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.
The maker of personal navigation devices posted revenue of $1.59 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $1.44 billion.
Garmin expects full-year earnings to be $6.85 per share, with revenue expected to be $6.12 billion.
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